Later Years
After Lilly stepped down as president of Eli Lilly and Company, he had more time to devote to personal interests and was active in community affairs. Still, as chairman of the board, he remained involved in major decisions affecting the company, maintained regular office hours, and kept in contact with senior management. In 1958 the American Pharmaceutical Association awarded Lilly its prestigious Remington Honor Medal.
As he grew older, Lilly enjoyed reading, music, art collecting, woodworking, traveling, and writing. He also continued to pursue philanthropic interests in archaeology, history, and historic preservation, where he contributed financial support with his own resources as well as those of the Lilly Endowment.
Lilly outlived his brother, wife, and daughter as well as many close friends and colleagues. Lilly had good health for most of his life, but in later years his hearing and sight began to fail. Despite these challenges, he continued to socialize, enjoy trips to Lake Wawasee, and attend civic events in Indianapolis. In 1976, when Lilly was in his nineties, he attended the Eli Lilly and Company's 100th anniversary gala.
Prior to his death, Lilly made careful arrangements for the disposition of his estate, which included real estate, company stock, cash, and bonds. When he died, Lilly's estate was estimated at more than $165.7 million, the majority of which continued to support the philanthropic interests of Lilly and his second wife, Ruth. Per Lilly's instructions, funeral arrangements following his death on January 24, 1977, were simple. Several days after Lilly's funeral service and burial at Crown Hill Cemetery, a memorial service was held at Christ Church in Indianapolis.
Read more about this topic: Eli Lilly (industrialist)
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